please help me

dear frns . i am a new trader and earned some 130 points on nifty just by shorting . now it has come back with a vengence and i have sold April nifty at 2656. now i have made a huge loss what should i do?
please tell me. iam not so intelligent

After entering the position, did u chk the chart and found that at some stage market had proven u wrong (when it clearly brokeout from 2800 level).
1) You shd have taken the loss then.
2) Atleast now, decide the level at which u will say that market is going further up. It is overbought now and logically, prices should retrace to 38% or 50% of the move. So you can live with the pain but keep monitoring closely for the level that will tell u that market has again started going up.
Don't hesitate to Close the position (before broker closes it due to margin call)
3) Stop trading leverage instrument like futures and options and LERAN TRADING FIRST. Understand that you are playing against some of the best brain and some of the smartest traders here. So learn the rules of the game and take small steps in right direction before u start running the marathon.

Happy Trading.

If you want to trade in Derivaties, do so in Options only. at least you'll not get "Butchered" (as with futures) but only "Scratched" (as with options trade).

always try to book loss/profit in nifty if market senitment reversed.as far as i always try to book loss within 50 points of nifty

thanks to all of you . just tell me that shoul i quit around 3200 or wait for expiry.

wait for 3200 and buy multiple puts of 3400 of this month and 2 or more puts of next month of 3200 to minimize loss

+

sir , dhiraj is already short ..how he can minimize his losses by buying puts ??

vineet

I am also confused with the statement.

i think wt he is trying to say is that he is expecting a huge sell off in market at 3400 level which will bring a big profit if fresh put bought 3400.....hehee....

I think you are right.